You are here

Buyers abandon homes in China city as prices fall

Thursday, August 21, 2014 - 06:00

[SHANGHAI] Falling property prices in China's eastern city of Wenzhou has triggered 6.4 billion yuan (S$1.3 billion) of bad loans as buyers abandoned homes and stopped making mortgage payments, the Economy & Nation Weekly reported. Purchasers of 1,107 properties halted payments as prices

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom